Hellenic Bank reduces base interest rate by 0.21%

14:01 - 18 November 2024

Financial Services Reporter

Hellenic Bank has announced a reduction of its base interest rate by 0.21%, bringing it down from 2.12% to 1.91%, effective 18 November.

This adjustment positively impacts over 90,000 of the bank's borrowers, aiding households and businesses in managing borrowing costs and stimulating economic growth, the bank noted in an announcement.

Following the European Central Bank's (ECB) recent decision to lower its key interest rates, Hellenic Bank had already reduced reference rates for loans linked to ECB rates from 3.65% to 3.40%, effective 23 October, 2024.

Consequently, approximately 6,000 borrowers with loans tied to the ECB's base rate and the Euribor have benefited from reduced financing costs, the bank notes.

"Hellenic Bank remains committed to supporting the local economy by offering competitive solutions to both individual and business clients," its announcement concluded.

(Source: InBusinessNews)

Hellenic Bank reduces base interest rate by 0.21%

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